LAW
ON MODIFICATIONS AND AMENDMENTS TO THE LAW ON ESTABLISHING THE MACEDONIAN BANK FOR DEVELOPMENT PROMOTION

Article 1

In the Law on Establishing the Macedonian Bank for Development Promotion (Official Gazette of the Republic of Macedonia, no. 24/98) in Article 6 after paragraph 2 a new paragraph shall be added and shall read: "The exposure of the Bank to a certain bank for financing development and export projects may amount up to double the amount of the guarantee capital of the Bank".

Current paragraphs 3, 4, 5, and 6 shall become 4, 5, 6, and 7.

Article 2

In Article 12, paragraph 1 the number "3" shall be replaced with number "4".

Article 3

This Law shall become effective on the eight day of its publication in "Official Gazette of the Republic of Macedonia ".